LABOR: Fee disclosure rule finalized
The Labor Department recently issued a final rule affecting disclosures among retirement plans. It will require 401(k)s and…
The Labor Department recently issued a final rule affecting disclosures among retirement plans. It will require 401(k)s and similar retirement plans to provide workers with quarterly statements of plan fees and expenses; give workers core information about available investments and their associated costs, use standard methodologies when calculating and disclosing expenses; present such information in a way that helps workers to compare investment options; and give workers access to supplemental investment information that goes beyond the basic information required. For more information, read Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans.
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